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"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Saturday, June 30, 2012

Eurozone Bailout: It Still Might Not Work

Eurozone Bailout: It Still Might Not WorkForbesOvernight we got the news that the euro, the eurozone, is saved. There will now be direct buying of bonds of the troubled sovereigns by the European Stability Mechanism, the ESM. Further, that the ESM purchases will not have seniority, but will rank ...

Euro Zone Takes Radical Decisions, But Implementation Risks LoomWall Street JournalBRUSSELS--European leaders' radical new measures Friday to tackle the euro zone's debt crisis -- which promise to use their sizeable rescue funds more flexibly and pave the way for the European Central Bank to assume an expanded role as supervisor for ...

Markets rally after defeat for Merkel - Telegraph: "Traders celebrated an unexpected defeat of Angela Merkel’s austerity strategy at the Brussels summit, despite warnings that the deal reached by European leaders would be insufficient to arrest the crisis."

Euro-Zone Economic Outlook Remains WeakWall Street JournalThe European Central Bank might have to take more action to spur growth in the euro zone after data suggested that German consumers are beginning to feel the strain of the debt crisis and the ECB's earlier injections of cash haven't borne fruit.

Markets rebound after eurozone dealFinancial TimesFinancial markets rebounded strongly on Friday after European leaders struck an unexpectedly detailed deal to help Spain and Italy face down fears about their ability to survive the eurozonecrisis. The agreement to allow the eurozone's rescue funds.

Europeans Agree to Use Bailout Fund to Aid BanksNew York TimesBRUSSELS — In the face of pressure from the embattled euro zone countries Italy and Spain, European leaders agreed early Friday to use the Continent's bailout funds to recapitalize struggling banks directly, cheering financial markets but prompting ...

Euro zone inflation steady, room for ECB moveReutersBRUSSELS (Reuters) - Euro zone inflation held steady at a 16-month low in June, kept in check by a sharp fall in oil prices and supporting an already strong case for a near-term interest rate cut by the.

Eurozone inflation unchanged at 2.4 percentThe Seattle TimesInflation has been gradually sinking in the eurozone thanks to a slack economy and lower oil prices, and the ECB expects it to fall to 2 percent sometime next year. Mario Draghi, the head of the European Central Bank, said June 15 that there was no ...

Merkel defends concessions in euro crisisSan Francisco ChronicleHeading in to the Thursday-Friday summit in Brussels, Merkel had appeared thoroughly uncompromising —insisting on the importance of getting budgets in order and improving eurozone strugglers' competitiveness while brushing aside talk of shared debt ...San Francisco Chronicle

Eurozone Leaders Move to Ease Debt CrisisFox BusinessAfter a round of intense meetings, eurozone leaders agreed on a broad range of measures aimed at quelling the debt crisis that is now well into its second year.

European Leaders Try To Tackle Eurozone's CrisisNPREuropean leaders worked through the night at a summit in Brussels aimed at tackling the eurozone's worsening debt crisis. There's been growing concern Italy will soon become the sixth eurozone nation to request a bailout.

OIL FUTURES: Nymex Crude Rises Sharply following Euro-Zone NewsWall Street JournalNEW YORK--Buoyed by a European Union summit's radical new measures to tackle the euro zone's debt crisis, along with renewed anxiety on Iran, crude-oil futures shot up more than 7% Friday, outperforming most other commodities on a bullish day for the ...

Markets Like Euro Crisis Deal, Merkel DefensiveWashington PostStock markets made gains around the world Friday after the latest European summit agreed on more substantive moves to resolve the continent's debt crisis. Germany's leader Angela Merkel was left defending concessions she made.

US Stocks Jump After Euro-Zone Banking AgreementWall Street JournalEuropean leaders at a two-day summit in Brussels said they would speed plans to create a single supervisors for the euro-zone's banks. They agreed that the euro-zone's bailout funds should be able to directly boost the capital of struggling banks ...

TABLE-Euro-zone private loans shrink in MayReutersFRANKFURT, June 29 (Reuters) - Money supply growthaccelerated but loans to the private sector decreased in May,the European Central Bank said on Friday. The ECB gave the following percentage changes.

Spain's Auction to Stir Waters if Euphoria FadesWall Street Journal (blog)Spain's bond auction next Thursday is expected to draw attention again if an initial positive reaction to this week's the European Union leaders' summit begins fading.

Euro summit: Day 2 | The WorldBy FTMarkets have responded powerfully with sharp moves in equities, bonds and currencies after EU leaders agreed measures that will see a shift towards central supervision of eurozone banks in exchange for short-term support on Italian and ...The World

Calafia Beach Pundit: Eurozone crisis atmosphere fadesBy Scott GrannisThe Eurozone members have not yet solved its fundamental problem—excessive government spending—but as these charts show, they have significantly reduced the threat of a near-term disaster. The ECB's liquidity injections have been ...Calafia Beach Pundit

Dramatic pre-dawn Eurozone deal sends markets soaring | The Raw ...By Agence France-PresseA dramatic pre-dawn deal to save the euro and revamp the eurozone by leaders of the 17eurozone nations brought immediate relief to crisis-hit Italy and Spain and sent markets soaring on Friday. At the end of tense talks that stretched almost ...The Raw Story

Eurozone's shaky 'breakthrough' to prevent catastrophe now ...By The Extinction ProtocolJune 29, 2012 – EUROPE - European leaders reached a “breakthrough” deal early Friday to ease the recapitalization of struggling banks that should help draw the eurozone back from the brink of a gathering crisis. Under the deal, European ...The Extinction Protocol: 2012 and beyond